Car Insurance Rates in Arkansas

The Natural State has affordable auto insurance rates but minimum liability coverage is more affordable than the full coverage in comparison to the country averages. Arkansas has 2 million licensed drivers and 19.3% of them are uninsured. It is 53% higher than the US average making it one of the states with the highest uninsured drivers. Vehicle ownership figure is much higher than most other regions and it may reflect the rural nature of the state with limited public transportation in many areas.

Arkansas Car Insurance Requirements

Collection of Pictures from ArkansasMinimum required coverages and limits are;

  • $25,000 for bodily injury or death per person.
  • $50,000 total for bodily injury or death per accident.
  • $25,000 for property damage.
  • Uninsured/Underinsured motorist bodily injury: $25,000 per person and $50,000 per accident*
  • Uninsured motorist property damage: $25,000 with a $200 deductible*
  • Medical benefits: $5,000*
  • Lost earnings: $140 per week*
  • Accidental death benefits: $5,000 per person*
  • *These coverages can be rejected in writing.

Since you have to buy at least minimum vehicle insurance coverage in this state, you may want to look at all your options carefully and see if you can arrange a comfortable policy within your budget. You need to have the coverage first to be able to claim for your losses in the future. So, it is important to consider what are the key risks you want to be protected and buy the coverage in preparation.

Affordable Arkansas Vehicle Insurance Rates

Average minimum liability car insurance costs in Arkansas is $443, which is $179 less than the US average. You can also get affordable full cover car insurance, as the estimated cost is $1,907 and $107 below the US average. The best scenario is to see these two figures close to each other. Then, people would be more tempted to buy full coverage, rather than just going for much cheaper liability only policy. Full coverage policies cost over four times more than minimum liability coverage. Considering the income levels in this state and large number of uninsured drivers, full coverage may not be as popular as it is in the rest of the country, even though it provides a lot more protection.

Competitive Auto Insurance Carriers in Arkansas

These companies offer the most competitive rates in the Natural State, providing savings of up to 60% compared to others. Horace Mann offers discounts for teachers, while USAA caters to soldiers. Keep in mind that the competitiveness of these companies may vary depending on factors such as your driving records, credit history, age, gender, and vehicle. Thus, it is advisable to obtain multiple quotes to ensure you find the most suitable option. For liability-only policies and safe drivers, the following companies are particularly competitive;

  1. Farmers
  2. Safeco
  3. ANPAC

The rates for auto insurance can significantly differ even between closely located zip codes. For instance, in Little Rock, the average driver pays about 20% more than the statewide average. However, considering it is the capital and the largest city, this increase is relatively minor. While premiums in most cities align closely with the state average here, urban residents tend to pay more than rural drivers in general.

To secure the best possible price, it is crucial to carefully evaluate your options. While it’s beneficial to review the automobile insurance rates offered by the aforementioned affordable carriers, it is only the initial step in your search. It’s recommended to gather several other quotes and compare them in terms of both price and coverage. This comparison will help you determine whether you are paying a fair amount or significantly more than necessary.